VigneshIyer

Breakout post consolidation

Long
NSE:SUDARSCHEM   SUDARSHAN CHEMICAL
Not a classic flag breakout since the upper part of the pole is a shadow hence clearly the price dint sustain at that level. Q4 numbers are announced hence might see some consolidation (maybe a week or 2) before breaking out with targets on upwards of 850+. Q4 numbers are quite decent. Pattern invalid below 620 weekly closing.

Disclaimer: I am not a sebi registered analyst. The purpose of sharing the chart is purely educational.
Trade active: A good effort on part of the stock to break out of the pattern but couldn't cross the psychological barrier of 700. If tomorrow stock doesn't breakout we would have new candlestick next week and the pattern would only hold more strength and conviction.
Comment: Another candle inside the flag as closing of friday failed to b/o. Now today some consolidation was seen. Would be a interesting week

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